Murphy Oil (MUR) to Evaluate Third Point Letter

Murphy Oil Corporation (NYSE: MUR) said today that it has an ongoing dialogue with its shareholders and that the Company is focused on maximizing long-term value for all shareholders.

As part of this dialogue, it recently met with a number of investors including Third Point LLC. These and other investors have made a variety of suggestions with regard to the Company’s portfolio and the Company values their input.

“The Board and management have been working to evaluate opportunities to illuminate the value in our stock price for the benefit of all of our shareholders,” said Claiborne Deming, Chairman of the Board.

The Company will continue to keep all shareholders informed with respect to this evaluation.

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